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Domestic Tractor Sales Declined by 22.67% in March 2024: 63,755 Units Sold

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By Robin Kumar AttriUpdated On: 03-Apr-24 06:40 PM

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Robin Kumar Attri |Updated On: 03-Apr-24 06:40 PM

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Domestic tractor sales in India dropped by 22.67% in March 2024, with 63,755 units sold, signaling challenges for the industry.

Domestic Tractor Sales Declined by 22.67% in March 2024: 63,755 Units Sold

Key Highlights

March 2024: Domestic tractor sales in India are down by 22.67%.
63,755 units sold compared to 82,450 in March 2023.
Mahindra leads with 24,276 units sold.
TAFE, Sonalika International, Escorts, and John Deere also report declines.
Kubota experiences a significant 48.90% drop in sales.

In a reflection of the challenges faced by the agricultural machinery sector, domestic tractor sales in India experienced a significant decline of 22.67% in March 2024. According to data compiled by industry experts, 63,755 tractors were sold during this period, compared to 82,450 units sold in March 2023. While this decline presents a notable setback, industry insiders are hopeful for a renewal in the forthcoming season.

Domestic Tractor Sales Report March 2024 - Brand Wise

Manufacturer	Mar’24	Mar’23	Growth %	MS Mar’24	MS Mar’23	MS YoY
M&M Group	24276	33622	- 27.80	38.08	40.78	-2.70
Tafe Group	10878	13674	-20.45	17.06	16.58	0.48
Sonalika	8682	10616	-18.22	13.62	12.88	0.74
Escorts	8054	9601	-16.11	12.63	11.64	0.99
John Deere	5523	5931	-6.88	8.66	7.19	1.47
New Holland	3062	3707	-17.40	4.80	4.50	0.31
Kubota	1301	2546	-48.90	2.04	3.09	-1.05
Captain	482	501	-3.79	0.76	0.61	0.15
VST	475	574	-17.25	0.75	0.70	0.05
Preet	462	697	-33.72	0.72	0.85	-0.12
Indo Farm	412	621	-33.66	0.65	0.75	-0.11
ACE	88	274	-67.88	0.14	0.33	-0.19
SDF	60	86	-30.23	0.09	0.10	-0.01
Total	63755	82450	-22.67	100	100

Mahindra Tractor

India's leading tractor manufacturer, Mahindra Tractor, reported sales of 24,276 units in March 2024, reflecting a 27.80% decrease from the previous year's sales of 33,622 tractors. Despite this decline, Mahindra remains a dominant player in the market, although experiencing a 2.70% loss in market share.

Also Read: Mahindra Tractor Sales Report March 2024: Domestic Market Sales Drop by 28%, Exports Up by 26%

TAFE

TAFE, another prominent brand, witnessed a 20.45% decrease in sales, with 10,878 units sold in March 2024 compared to 13,674 units in March 2023. TAFE's market share stands at 0.48%, indicating a slight dip.

Sonalika International

Sonalika International recorded sales of 8,682 tractors in March 2024 compared to 10616 units in March 2023, marking an 18.22% decrease from the previous year. However, the brand's market share saw a marginal increase of 0.74%.

Escorts

Escorts, a key player in the industry, reported sales of 8,054 tractors in March 2024 compared to the 9,601 units in March 2023, experiencing a 16.11% decline from the previous year. Nevertheless, the company managed to increase its market share by 0.99%.

Also Read: Escorts Kubota Tractor Sales Drop by 16.7% in March 2024

John Deere

John Deere's sales stood at 5,523 tractors in March 2024 compared to the 5931 units in March 2023, representing a 6.88% decrease from the previous year. Despite this, the brand witnessed a 1.47% increase in market share.

New Holland

New Holland reported a 17.40% decrease in sales, with 3,062 units sold in March 2024 compared to 3,707 units in March 2023. However, the brand's market share experienced a slight growth of 0.31%.

Kubota

Kubota faced a significant decline of 48.90% in sales, with only 1,301 units sold in March 2024 compared to 2,546 units in March 2023. The company's market share also decreased by 1.05%.

Captain Tractor

Captain Tractor faced a significant decline of 3.79% in sales, with only 482 units sold in March 2024 compared to Tractors sold in March 2023. The company's market share also decreased by 0.15%.